The BP press release for August 17, 2010 explains how claims will transition from their BP Claims operation to Ken Feinburg’s Gulf Coast Claims Facility program.
Here is the link to their press release with all of the details:
The BP Claims Statistics page is updated through 8/17/10 and shows 151,000 claims reported and only 44,000 of them have received one payment thus far. They also show the current claim staff at 1,650 which is an increase of about 400 since I last blogged about this a few days. That is quite interesting as I personally made a call to Worley’s deployment department to see what status was on deployments and they said that deployments had slowed down and they were fully staffed right now. Considering that Ken Feinburg when in Pensacola last week said all claim will have to be reported again to the Gulf Coast Claims Facility so that is going to be quite a feat to take 151,000 claim assignments and requiring the claimants resubmit all paper work to the Gulf Coast Claims Facility.
Here is also a link to a good Bloomberg article published 8/16/10 quoting Feinburg on the economic losses that are not directly on the coast:
It is interesting to read his comment that hotels more than 50 miles from the coast are unlikely to recover economic losses. Just as one example, immediately it came to mind to me that if you exit off of interstate 10 to Panama City you automatically see signs that it is 51 miles to the beach………………need I say more?
I do believe we have a long road ahead of us before we hear the last of these claims.
I’ll update the blog immediately when Feinburg releases the information this week as this BP press release says he will.
I’ll leave you now with a link to a video of Feinburg in Pensacola, FL at a townhall meeting explaining the GCCF transition by WEAR TV 3 in Pensacola, FL: